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In re Panther Mountain Land Development, Limited Liability Company
United States Bankruptcy Court for the Eastern District of Arkansas
438 B.R. 169 (2010)
Panther Mountain Land Development, L.L.C., (Panther Mountain) (plaintiff) owned, developed, and managed two tracts of land, Sunset Lake Estates and Panther Mountain Estates. Panther Mountain filed for chapter 11 bankruptcy. At the time of the petition, Panther Mountain owed National Bank two notes, for approximately $1,200,000 on the Sunset property and $690,000 on the Panther property. National Bank filed a motion for relief from the stay. The bankruptcy court denied the motion. National Bank later filed a second motion for relief from the stay along with a motion for valuation of the properties.
Rule of Law
Holding and Reasoning (Evans, J.)
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